Balyasny Asset Management L.P. Acquires New Position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Balyasny Asset Management L.P. bought a new stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 172,313 shares of the company's stock, valued at approximately $1,365,000. Balyasny Asset Management L.P. owned about 0.06% of Amneal Pharmaceuticals at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Amneal Pharmaceuticals in the fourth quarter valued at $81,000. Straightline Group LLC purchased a new position in Amneal Pharmaceuticals in the fourth quarter valued at $92,000. Cibc World Markets Corp purchased a new position in Amneal Pharmaceuticals in the fourth quarter valued at $118,000. Janney Montgomery Scott LLC purchased a new position in Amneal Pharmaceuticals in the fourth quarter valued at $121,000. Finally, Fox Run Management L.L.C. increased its holdings in Amneal Pharmaceuticals by 69.0% in the fourth quarter. Fox Run Management L.L.C. now owns 20,435 shares of the company's stock valued at $162,000 after buying an additional 8,342 shares during the last quarter. Hedge funds and other institutional investors own 31.82% of the company's stock.

Amneal Pharmaceuticals Stock Performance

NASDAQ AMRX traded up $0.10 during trading hours on Friday, hitting $7.60. The company had a trading volume of 1,285,054 shares, compared to its average volume of 1,442,938. Amneal Pharmaceuticals, Inc. has a 1-year low of $6.29 and a 1-year high of $9.48. The company has a market cap of $2.38 billion, a PE ratio of -11.18 and a beta of 1.17. The business has a 50 day moving average of $7.77 and a 200-day moving average of $8.10.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last announced its earnings results on Friday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.05. Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. The business had revenue of $695.42 million during the quarter, compared to the consensus estimate of $714.78 million. Sell-side analysts expect that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AMRX shares. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a "neutral" rating to an "overweight" rating and increased their target price for the company from $9.00 to $12.00 in a report on Monday, February 24th. Barclays upped their price objective on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Monday, March 3rd. Finally, StockNews.com downgraded shares of Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Tuesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $11.50.

Insider Transactions at Amneal Pharmaceuticals

In related news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.35, for a total value of $41,750,000.00. Following the completion of the sale, the insider now owns 48,578,209 shares in the company, valued at $405,628,045.15. This trade represents a 9.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gautam Patel sold 80,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $8.90, for a total transaction of $712,000.00. Following the completion of the sale, the director now owns 1,808,886 shares of the company's stock, valued at approximately $16,099,085.40. The trade was a 4.24% decrease in their position. The disclosure for this sale can be found here. Insiders own 26.56% of the company's stock.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals, Inc, together with its subsidiaries, develops, manufactures, markets, and distributes generics, injectables, biosimilars, and specialty branded pharmaceutical products worldwide. The company operates through three segments: Generics, Specialty, and AvKARE. The Generics segment offers immediate and extended release oral solid, powder, liquid, sterile injectable, nasal spray, inhalation and respiratory, biosimilar, ophthalmic, film, transdermal patch, and topical products.